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(H4) Support Remains Exposed

BOBL TECHS
  • RES 4: 120.130 High Mar 24 (cont)
  • RES 3: 120.000 Psychological round number
  • RES 2: 119.640/830 High Jan 4 / High Dec 27 and the bull trigger
  • RES 1: 118.675 20-day EMA
  • PRICE: 118.460 @ 04:59 GMT Jan 9
  • SUP 1: 118.050 Low Jan 05
  • SUP 2: 117.800 Low Dec 8 and a key support
  • SUP 3: 117.754 50-day EMA
  • SUP 4: 117.510 Low Dec 4

Bobl futures traded lower last week and a corrective cycle remains in play for now. The move through the 20-day EMA highlights potential for a deeper pullback and this has exposed support at 117.800 ahead of the 50-day EMA at 117.754. Clearance of both support points would strengthen a bearish threat. On the upside, key resistance and the bull trigger is 119.830, the Dec 27 high. A break would confirm a resumption of the uptrend.

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